9,586 Shares in Block, Inc. $XYZ Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new position in shares of Block, Inc. (NYSE:XYZ) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 9,586 shares of the technology company’s stock, valued at approximately $368,000.

A number of other large investors have also recently added to or reduced their stakes in XYZ. Elevation Wealth Partners LLC lifted its holdings in shares of Block by 301.0% in the second quarter. Elevation Wealth Partners LLC now owns 389 shares of the technology company’s stock valued at $30,000 after purchasing an additional 292 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Block during the first quarter worth about $31,000. Rachor Investment Advisory Services LLC acquired a new stake in Block in the 4th quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC raised its position in Block by 57.6% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 610 shares of the technology company’s stock valued at $40,000 after buying an additional 223 shares during the last quarter. Finally, Osbon Capital Management LLC bought a new stake in Block in the 4th quarter valued at approximately $43,000. Institutional investors own 70.44% of the company’s stock.

Insiders Place Their Bets

In other Block news, CFO Amrita Ahuja sold 8,971 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $85.85, for a total transaction of $770,160.35. Following the sale, the chief financial officer directly owned 454,275 shares of the company’s stock, valued at approximately $38,999,508.75. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brian Grassadonia sold 25,908 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $81.64, for a total transaction of $2,115,129.12. Following the completion of the sale, the insider owned 531,746 shares of the company’s stock, valued at approximately $43,411,743.44. This represents a 4.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 461,070 shares of company stock valued at $36,261,272. 11.37% of the stock is currently owned by corporate insiders.

Block Stock Down 1.2%

NYSE:XYZ opened at $79.96 on Friday. The firm has a market capitalization of $48.04 billion, a price-to-earnings ratio of 142.79, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. Block, Inc. has a twelve month low of $48.21 and a twelve month high of $86.75. The stock’s 50 day moving average price is $78.49 and its two-hundred day moving average price is $69.07. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.26.

Block (NYSE:XYZ) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.48 by $0.54. Block had a return on equity of 8.10% and a net margin of 1.43%.The company had revenue of $6.62 billion during the quarter. During the same period in the previous year, the company posted $0.62 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Block has set its FY 2026 guidance at 4.020-4.020 EPS and its Q3 2026 guidance at 1.020-1.020 EPS. Equities research analysts expect that Block, Inc. will post 2.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Block from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. William Blair downgraded shares of Block to a “market perform” rating in a report on Tuesday, June 30th. The Goldman Sachs Group raised shares of Block from a “buy” rating to a “buy” rating in a research report on Tuesday, June 30th. Citigroup boosted their price objective on shares of Block from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group assumed coverage on shares of Block in a report on Tuesday, June 30th. They set a “hold” rating for the company. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.23.

Block Profile

Block (NYSE:XYZ) is a financial technology company that builds products and services to facilitate electronic payments, commerce, and consumer finance. Its principal business lines include a seller-focused ecosystem that provides point-of-sale hardware and software, payment processing, invoicing, payroll and lending services, and a consumer-facing platform that offers peer-to-peer payments, banking-like features, and investing. Block’s portfolio also encompasses music streaming and buy-now-pay-later capabilities through businesses acquired to broaden its reach beyond core payments.

The company was founded as Square in 2009 by Jack Dorsey and Jim McKelvey and later rebranded to Block to reflect a diversified set of businesses across payments, consumer finance, and emerging technologies.